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March 18 — HR professionals may have ambitious goals for how to analytically use the data they are gathering on the workforce, but many are still failing to exploit its full potential, according to survey results released March 16 by Atlanta-based outsourcing company Randstad Sourceright.
“Nearly half say they don't leverage workforce intelligence in their planning process, and HR leader feedback from across the world tells us current complexity of systems and technology combined with lack of resources presents a roadblock,” the company said in its “2015 Talent Trends Report,” which details some 25 HR and talent management trends based on an international survey of 350 senior HR and talent acquisition managers. Randstad conducted the survey from Oct. 24 to Nov. 28, 2014, drawing 18 percent of the participants from the U.S.
Of the 56 percent of survey respondents who said they do “use talent analytics and insights to inform their workforce planning process,” 73 percent said they do so to streamline workforce planning, 69 percent said they do it to identify and deal with shortfalls in skills and 65 percent said they do it “to clearly identify high-potential employees for development.”
In addition, survey respondents use talent analytics “to improve alignment of people and company strategy, linking performance to compensation, and [providing] deeper access to external talent pools,” Louisa Wilson, global marketing director of Randstad Sourceright, said in a March 18 e-mail to Bloomberg BNA.
Wilson had several suggestions for “ways HR departments can look to integrate analytics into the talent strategy” based on the survey. For example, she said, when it comes to recruitment, “talent analytics enables monitoring and mapping of high-potential employee career paths within the organization,” including such employees' previous skills and background as well as their behavior and personality traits, which HR can use “to build a data-driven talent attraction and recruitment approach.”
The talent analytical approach can determine “quantifiable bottom-line impact” from such standard recruitment metrics as the time it takes to fill a position, the cost per hire and retention, Wilson added.
She also suggested “aligning the HR and workforce strategy with the business strategy through market intelligence and talent mapping to identify new markets for growth opportunities.”
Wilson said HR data and analytics can additionally be used to identify:
• “what drives high levels of retention and engagement”;
• what motivates high-performing salespeople and how to recruit them;
• “why some offices deliver higher levels of productivity and what causes the variation”;
• “the leadership pipeline—who are the most successful leaders, what makes them successful and what's the profile of potential leadership talent”;
• what kinds of employee talent lead to “higher levels of customer satisfaction and retention”; and
• what talent gaps to look out for as the business grows and how to develop the talent pipeline accordingly.
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The report can be requested at http://content.randstadsourceright.com/talent-trends-report.
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